Nikai Group of Companies – a diversified business group with strong a focus on consumer electronics – has announced its plans to expand its business in Egypt, Iraq, Azerbaijan and Congo, as part of their aggressive expansion strategy for 2019. The change will further build on the organisation’s success and add to the capabilities of the existing four regional hubs.
With an aim to strengthen its presence in key growth markets, the strategic announcement will witness the opening of the Egypt office in the third quarter of 2019 as the first leg of the initiative, followed by the other countries in the latter half of 2019.
“Through these representative offices, we wish to build upon our current trade partnerships, explore further opportunities and continually position Nikai as a favoured electronic brand amongst consumers. Our aim is to reinforce our presence within these markets and continue to focus on being able to deliver quality and innovation,” said Paras Shahdadpuri, chairman, Nikai Group of Companies.
With over two successful decades of operations across GCC and in line with the group’s vision for 2020, Nikai has decided to invest in fast-growing economies and countries with a high value-based consumer demand. The new expansion plan will double Nikai’s local footprint and place the company closer to the consumer it serves. A team of dedicated sales staff will manage various in-market promotions and initiatives to drive further awareness of Nikai as a multifaceted business and innovative consumer brand.
“The change in custom laws in few of these markets, and with local government giving higher impetus to investors to set up operations in the region has encouraged the group to expand further. Also, these markets offer potential for growth over the next 3-5 years for our category. We are hopeful that the new regions would contribute to 15-20% of Nikai’s revenue over the next 3 years,” added Shahdadpuri.
Words by Katie Streten Experiential Strategy Director, VMLY&R COMMERCE Throughout the last year,June 13, 2021 | By Shruthi Nair
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
UAE-based Nikai Group recently celebrated its 1st anniversary in the Arab Republic of
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
UAE-based technology retailer Jumbo Group has announced its association with SAWA Life,
If you think shopping online is cheaper than shopping in-store, then think
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce